Credit card features

Money Management
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It’s always best to get a credit card that has no annual fee. Also, one that offers Auto rental Collision Damage waiver so when you use that card to rent a car and get into an accident with the rental car, you will not be charged for Loss of use by the rental car co. So don’t sign up for that coverage thru the rental car co. if you have a credit card that offers it. Check your features and benefits from your existing cards to see if they offer that and other travel benefits too.

The new Wells Fargo Autograph Visa card has the rental car coverage and is offering a nice $300 bonus after you spend a certain amount in a few months. The only way to cash out that bonus instead of using it for gift cards is to open a Wells Fargo checking account which I did and will get a $200 bonus for that too.

The bonus money you earn for signing up for a new card is not taxed because you have to spend money to earn the bonus. However, if you get a bonus from opening a new checking account, you will get a 1099 for that b/c you don’t have to spend money to earn it even though some fintech banks might make you use the debit card a certain # of times per month to qualify.

So the $500 bonus money I will be earning from 2 Wells Fargo financial accounts will put towards my emergency fund or used as an extra payment on my car loan.

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nice i’m glade its working for you

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Interesting you mentioned auto rental collision damage, @sfree. A few years ago, a car I was renting got pretty scratched up on one side. The rental company was not happy. However, because I used my Chase Sapphire card when I booked, which included all the insurance I’d ever need on a rental car, it was no prob at all. What a relief!

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Great job using Credit Cards wisely to get some extra cash towards your emergency fund!

I personally like taking advantage of the travel credit cards as my wife and I like to travel a lot.

They usually have an annual fee but it is generally waived the first year, and since both my wife and I have decent credit scores, we can take turns getting the cards and the bonuses that come with them.

This has allowed us to get free flights to Hawaii and Chicago and that is just off of the miles that you can earn when signing up. Most of them also offer some sort of cash incentive.